Saudi and UAE companies will develop conventional combined-cycle and renewable energy projects
- $6bn worth of private power agreements signed between Egypt, Saudi Arabia and the UAE
- Private developer Acwa Power joins and UAEs Masdar to lead projects
- 3,000MW to come from combined cycle generation and renewable sources
Saudi Arabias Acwa Power and Abu Dhabis Masdar signed on 14 March a memorandum of understanding (MOU) with the Egyptian Electricity Holding Company (EEHC) to develop combined-cycle and renewable energy projects worth more than $6bn.
The projects include 2,000MW of conventional combined-cycle power plants, 1,000MW of solar power facilities and also wind power facilities.
The projects are planned to be developed under the independent power project (IPP) model.
Renewables
The UAE renewable energy firm and Saudi utility developer signed the MOU with the EEHC and the Egyptian Electricity & Energy Minister Mohamed Shaker at the Egypt Economic Development Conference in Sharm el-Sheikh on 14 March.
The parties involved said that the projects were currently in the feasibility stage and that the studies would be completed in the next 18 months.
Acwa Power also signed an MOU to develop 4,000MW of coal-fired generation facilities over two phases through an IPP model.
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